ECONOMY

Index continues to rise despite OTE downturn

The Greek bourse continued its rise yesterday for the third day in succession, although many stocks’ initial gains during the day were considerably reduced by the end of trading. The Athens Exchange (ATHEX) general index was up 0.23 percent, closing at 5,133.31 points yesterday from 5,121.67 points on Thursday. The index had climbed as high as 5,186.82 points mid-session – a 1.27 percent rise – but soon began its slide as many investors unloaded OTE shares following the government’s measure to control private stakes over 20 percent in «strategic» companies. The blue chip FTSE/ATHEX 20 index slipped 0.12 percent, ending at 2,719.74 points. The mid-cap FTSE/ATHEX 40 and the small-cap FTSE/ATHEX 80 indices rose by 0.54 percent and 0.58 percent respectively. The FTSE/ATHEX International was down 0.04 percent to 7,227.76 points. Mytilineos outperformed among blue chips, posting a 3.90 percent daily rise, followed by Viohalco (up 3.87 percent), Motor Oil (2.40 percent) and the National Bank of Greece (2.37 percent). OTE led losers with a 4.78 percent drop. Turnover reached -588.51 million, of which -122.77 million concerned block trades. The Cypriot General Index declined by 1.63 percent to 4,981.86 points.